CRVO vs HSY: Correlation
Measured on weekly returns over the past three years, CervoMed Inc. (CRVO) and Hershey Company (The) (HSY) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRVO and HSY?
Across a 3-year window, the weekly returns of CRVO and HSY correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.23). Stretching to 5 years gives -0.20, with an annualized covariance of -1052.0 %².
Within CRVO's tracked universe of 17 assets, HSY comes in at #11 by 3-year correlation. The last year tells two different stories: HSY led by 74.7 percentage points, -71.9% for CRVO against +2.8% for HSY. One caveat on sizing: CRVO is 7.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CRVO vs HSY: side by side
| CRVO (CervoMed Inc.) | HSY (Hershey Company (The)) | |
|---|---|---|
| 1-year return | -71.9% | +2.8% |
| 5-year return | -94.2% | +16.5% |
| Volatility (ann.) | 178.5% | 25.6% |
| Beta vs S&P 500 | 0.33 | 0.03 |
| Max drawdown (3Y) | -92.7% | -31.2% |
| Market cap | – | $36.4B |
| P/E (trailing) | – | 25.3 |
| Dividend yield | 0.00% | 3.05% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CRVO | HSY |
|---|---|---|
| 2022 | -67.4% | +21.9% |
| 2023 | +0.5% | -17.9% |
| 2024 | -69.3% | -6.5% |
| 2025 | +237.6% | +11.0% |
| 2026 | -66.6% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRVO and HSY good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between CRVO and HSY?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.10 over the last year and -0.20 over 5 years.
Is HSY a good diversifier for CRVO?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crvo-vs-hsy.json
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Related comparisons
Hubs: CRVO correlations · HSY correlations
